In an update to the Australian Securities Exchange (ASX), CCA said trading in its Australian beverages for the year to date has been weaker than last year with all channels experiencing volume and price pressure due to competition and category trends.

CCA said although it is working with The Coca-Cola Company to rebalance its portfolio, more time is needed for initiatives to gain traction.

SPC in-line

CCA reported that although its sugary drinks may be struggling, SPC is trading as expected.

Trading is also as expected in New Zealand, Fiji, coffee and alcohol.

“Papua New Guinea is performing well and while trading in Indonesia continues to be impacted by soft market growth, the business is delivering to expectations,” CCA said.

CCA stated it expected its full 2017 financial year underlying net profit to be broadly in line with its 2016 results.

“This is largely driven by challenges being experienced in Australian Beverages,” CCA reported.

Australia’s fall in sugary drink consumption

Australian Food News has previously reported on Australia’s dropping interest in sweet drinks.